Market Mood Shifts From Fear to Confidence
A veteran strategist believes that a mix of improving geopolitical sentiment, potential rate cuts, and surging institutional demand could permanently anchor BTC above $100,000.
Kendrick noted that the global environment for risk assets has improved dramatically over the past week. What started as a period of anxiety in global markets has quickly turned into renewed optimism as signs of cooperation between the United States and China emerged. Reports that Washington would delay restrictions on China’s rare-earth exports, coupled with Beijing’s willingness to increase imports of U.S. agricultural goods, helped ease market tensions ahead of the Donald Trump–Xi Jinping summit in South Korea.
These developments, Kendrick argued, have reignited confidence in the global economy and helped push investors back into riskier assets. One key indicator of this shift, he said, is the Bitcoin-to-gold ratio, which recently climbed above levels seen before the market pullback in early October. “A sustained rise above 30 in this ratio would confirm that the fear phase is behind us,” Kendrick wrote in his analysis.
ETF Flows Could Cement Bitcoin’s Strength
Beyond macro sentiment, the Standard Chartered strategist believes the next big driver for Bitcoin will be inflows into spot Bitcoin ETFs. He noted that roughly $2 billion exited gold-backed ETFs in just three days last week and suggested that if even half of that capital shifts into Bitcoin products, it could fuel another strong leg upward.
In his view, this transition marks a structural change in how institutional investors allocate funds. “The halving cycle used to define Bitcoin’s major price moves, but that narrative is fading,” Kendrick said. “ETF inflows are now the dominant force shaping Bitcoin’s long-term direction.”
Central Bank Policy Adds Fuel to the Rally
Kendrick also expects macroeconomic policy to favor Bitcoin in the near term. The Federal Open Market Committee (FOMC) is widely expected to approve a 25 basis point interest rate cut this week — a move that could add further liquidity to global markets and lift risk-sensitive assets like cryptocurrencies.
He added that upcoming earnings reports from major technology companies such as Apple, Google, and Microsoft — as well as from crypto-linked firms like Coinbase and Strategy Inc. — could reinforce positive sentiment if results surpass expectations.
A Structural Shift for Bitcoin
In his closing remarks, Kendrick said that if this week’s developments play out as expected, Bitcoin’s six-figure level could become a long-term price floor rather than a temporary milestone.
“If macro conditions remain supportive and ETF flows continue, Bitcoin might never drop below $100,000 again,” he stated, calling this potential moment a “structural revaluation” of the cryptocurrency market.
Kendrick’s outlook suggests that the combination of geopolitical stability, regulatory clarity, and institutional adoption could push Bitcoin into a new phase — one where the days of five-digit prices are left permanently in the past.